Prosus, a subsidiary of consumer internet giant Naspers, has announced that group president and chief investment officer (CIO) Ervin Tu will step down from his current role.
Tu will maintain a relationship with the group as an advisor, it adds.
He previously served as interim CEO when Bob van Dijk left the group in September 2023, a role he held until the appointment of company CEO Fabricio Bloisi.
Says Bloisi: “Ervin has made significant contributions to our people, strategy and capital allocation – as CIO, as interim CEO and as president. I am very grateful to him for his counsel and support, and I am pleased that Ervin will remain a good friend of the Prosus and Naspers team and continue to advise the company.”
Since joining in August 2021, Tu led initiatives such as simplifying the group’s structure, improving group-wide financial performance, implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, according to the company.
It further notes that he has been instrumental in supporting a successful leadership transition.
Tu comments: “Under Fabricio’s leadership, the group has charted an exciting new course as a connected, innovative tech company, as opposed to an investment holding company. I have enjoyed my time with the group immensely, I’ve accomplished what I wanted to achieve, and the group is in very good hands. I wish Fabricio and the team the very best for the future.”
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